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MegaPath Sells Subsidiary Covad Wireless to TelePacific Communications

TMCnews Featured Article


April 12, 2011

MegaPath Sells Subsidiary Covad Wireless to TelePacific Communications

By Shamila Janakiraman, TMCnet Contributor


MegaPath (News - Alert) Inc. a provider of managed data, voice, and security services in North America announced the completion of the sale of its NextWeb, Inc. subsidiary, dba Covad Wireless, to TelePacific Communications (News - Alert).


In a release D. Craig Young, Chairman and CEO, MegaPath said, “As MegaPath continues to focus on providing customers with leading-edge, fully-managed voice security and connectivity services nationwide, Covad (News - Alert) Wireless’ regional offerings did not support our corporate objectives.”

“This agreement ensures that those customers are properly supported and allows MegaPath to direct our efforts toward services that will deliver the most value to our customers and support our strategic long-term goals,” Young added.

TelePacific is a phone service provider headquartered in downtown Los Angeles. It provides telecom services on its own switches and network infrastructure and employs more than 1,100 employees in 40 regional offices and call centers.

In this deal MegaPath’s exclusive financial advisor was Waller Capital Partners, LLC, and its exclusive legal advisor was Bingham McCutchen LLP, said company sources.

MegaPath operates one of the largest end-to-end communications networks in the United States. In the year 2010, the company merged with Speakeasy (News - Alert) and Covad forming a single company. This provided a full range of data, voice, and security services to small and medium-sized businesses and enterprises across the U.S.

MegaPath helps enterprises of all sizes to enable communications securely and easily between headquarters, employees, and business partners. This will reduce costs, increase security, and enhance employee productivity.

Its products and services are in a format that can be easily managed by a company with limited IT resources. SMBs only deploy technology to solve real business problems and for faster transactions, cashless transactions or real-time information access for pricing, inventory management and so on. In this case MegaPath provides an IP broadband wide area network that can provide the required connectivity and security to handle these applications.

Recently MegaPath announced that Network Products Guide has included its Hosted Voice solution as a finalist in the ‘VoIP and Unified Communications’ (News - Alert) category of the 2011 Hot Companies and Best Products Awards.


Shamila Janakiraman is a contributing editor for TMCnet. To read more of Shamila’s articles, please visit her columnist page.

Edited by Juliana Kenny







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